FirstEnergy Corp. (NYSE:FE) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System trimmed its stake in FirstEnergy Corp. (NYSE:FEFree Report) by 3.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 761,349 shares of the utilities provider’s stock after selling 24,991 shares during the quarter. California State Teachers Retirement System owned approximately 0.13% of FirstEnergy worth $27,911,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Sachetta LLC purchased a new stake in FirstEnergy in the 4th quarter worth about $25,000. Sugarloaf Wealth Management LLC acquired a new stake in shares of FirstEnergy during the fourth quarter worth approximately $29,000. Blue Trust Inc. boosted its holdings in shares of FirstEnergy by 327.3% during the fourth quarter. Blue Trust Inc. now owns 1,034 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 792 shares during the period. Wetzel Investment Advisors Inc. purchased a new position in FirstEnergy during the fourth quarter valued at approximately $40,000. Finally, NBC Securities Inc. acquired a new position in FirstEnergy in the 3rd quarter valued at approximately $45,000. 89.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on FE. Morgan Stanley boosted their price target on shares of FirstEnergy from $42.00 to $46.00 and gave the company an “overweight” rating in a report on Tuesday, May 28th. Scotiabank lowered their target price on FirstEnergy from $41.00 to $40.00 and set a “sector perform” rating on the stock in a research note on Monday, April 22nd. The Goldman Sachs Group assumed coverage on FirstEnergy in a research report on Wednesday, April 10th. They issued a “buy” rating and a $45.00 target price on the stock. Bank of America boosted their price target on FirstEnergy from $30.00 to $35.00 and gave the company an “underperform” rating in a research note on Tuesday, April 23rd. Finally, StockNews.com raised shares of FirstEnergy from a “sell” rating to a “hold” rating in a research report on Monday, April 29th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $40.27.

Get Our Latest Stock Report on FirstEnergy

FirstEnergy Stock Performance

Shares of FE opened at $39.44 on Thursday. The company has a market capitalization of $22.70 billion, a PE ratio of 22.67, a price-to-earnings-growth ratio of 2.55 and a beta of 0.50. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.65 and a quick ratio of 0.56. FirstEnergy Corp. has a one year low of $32.18 and a one year high of $40.65. The company’s fifty day moving average price is $38.85 and its 200 day moving average price is $37.84.

FirstEnergy (NYSE:FEGet Free Report) last posted its quarterly earnings data on Thursday, April 25th. The utilities provider reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. FirstEnergy had a return on equity of 12.45% and a net margin of 8.22%. The business had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.36 billion. As a group, analysts expect that FirstEnergy Corp. will post 2.68 earnings per share for the current year.

FirstEnergy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th were paid a $0.425 dividend. This is an increase from FirstEnergy’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Monday, May 6th. This represents a $1.70 annualized dividend and a dividend yield of 4.31%. FirstEnergy’s dividend payout ratio (DPR) is presently 97.70%.

About FirstEnergy

(Free Report)

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. It operates through Regulated Distribution and Regulated Transmission segments. The company owns and operates coal-fired, nuclear, hydroelectric, wind, and solar power generating facilities.

Read More

Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

Receive News & Ratings for FirstEnergy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FirstEnergy and related companies with MarketBeat.com's FREE daily email newsletter.